Delta State Government’s N1 Billion Revolving Fund For MSMEs: Is A Step In The Right Direction, Says Anthony Odigwe, Esq.

The Delta State Government’s recent approval of a N1 billion revolving fund to support Micro, Small, and Medium Enterprises (MSMEs) is a commendable move towards promoting economic growth and development in the state. This fund has the potential to provide much-needed financial support to MSMEs, enabling them to expand their operations, increase employment, and contribute to the state’s economic prosperity.

However, it is crucial that the fund is disbursed to genuine MSMEs, rather than just those that exist on paper. To achieve this, a robust monitoring and evaluation framework should be established to track the disbursement, utilization, and repayment of the fund. The establishment of a special taskforce outside the disbursing MDA to oversee the fund’s management and ensure its effective utilization is a step in the right direction.

This taskforce should comprise representatives from relevant stakeholders, including government representatives, MSMEs, financial institutions, and NGOs or respectable persons. By working together, they can ensure that the fund is used efficiently and effectively, ultimately contributing to the growth and development of MSMEs in Delta State, providing employment, and contributing to the state’s economic prosperity.

As noted by Anthony Odigwe, Esq., a former Legal Director of the Delta State Ministry of Justice, the fund has the potential to make a significant impact on the state’s economy. However, it is essential to ensure that the fund is managed effectively to achieve its intended purpose.

The Delta State Government’s initiative is part of a broader effort to support MSMEs in the state. The federal government has also launched several initiatives to support MSMEs, including the N75 billion MSME Intervention Program.

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Ndokwa Vanguard

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